Block, the payments company formerly known as Square, has pushed its Bitcoin reserves past 9,000 BTC. The increase was disclosed this week, and the company’s stock surged 10% on the news, signaling investor approval of the larger crypto bet.
The Bitcoin buildup
Block now holds more than 9,000 bitcoins. That’s a sizable position for a publicly traded payments firm, and it marks another step in the company’s ongoing accumulation of the asset. The exact timing of the purchases wasn’t disclosed, but the increase comes as Block continues to allocate a portion of its corporate treasury to Bitcoin.
Investors cheer the move
Block’s stock jumped 10% after the Bitcoin reserve announcement. The rally suggests shareholders are comfortable with the company’s increased exposure to the volatile cryptocurrency. For Block, the stock reaction matters — it’s a public company, and its Bitcoin strategy has always been a focal point for investors.
What’s next for Block’s Bitcoin bet
Block hasn’t said whether it plans to keep buying. But with reserves now above 9,000 BTC, the company’s commitment to Bitcoin is clear. The market’s positive response this week gives the firm more room to continue its strategy — or, at least, no immediate pressure to reverse course.
